One of the co-founders behind the controversial @NFT Instagram account is back at it again, looking for investors to pump millions into his latest crypto venture. A year ago, the @NFT Instagram account was accused of charging $100,000 for paid posts—ads which it published without disclosure—and falsely listed investor Mark Cuban as one of its co-founders. It was also accused…
New York State’s Department of Financial Services, or NYDFS, reportedly received a complaint from stablecoin issuer Circle regarding Binance’s reserves prior to its crackdown on BUSD. According to a Feb. 13 Bloomberg report, Circle alerted NYDFS in an autumn 2022 complaint that Binance’s reserves were insufficient to support its tokens, seemingly including stablecoin Binance USD (BUSD). A person familiar with…
Digital asset platform Bakkt has announced its plans to shift its focus to B2B technology solutions. The company said it will soon be sunsetting its consumer-facing app, which was designed to give users the ability to utilize their digital assets in different ways. The app, launched in March 2021, offered a user-friendly experience that brought together various digital assets, including…
Paxos confirmed Monday it received a Wells Notice from the Securities and Exchange Commission, stating it’s prepared to take on the agency and any enforcement actions related to stablecoin Binance USD. A Wells Notice is an official letter from the SEC that informs recipients the agency is preparing to bring a potential enforcement action against them. Paxos received notice from…
A federally sanctioned “coin mixer” used by criminals to launder money appears to have been relaunched under a different name, according to a blockchain analytics firm. “Blender is back,” crypto researchers Elliptic said on Monday, explaining that the app that was sanctioned last year by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) had “highly likely” been re-launched as…
Before Paxos published a press release at 6 a.m. Eastern time Monday, the stablecoin BUSD had approximately 16.16 billion tokens in circulation. In the past eight hours, nearly $290 million has been redeemed, bringing the number of BUSD in circulation to 15.87 billion. Stablecoin BUSD Sees Increased Redemption Activity During Regulatory Scrutiny The stablecoin BUSD is experiencing increased activity on…
Last week, the United States Securities and Exchange Commission (SEC) reached an agreement with cryptocurrency exchange Kraken. The latter will stop offering crypto staking services to American customers and pay $30 million in disgorgement, prejudgment interest and civil penalties. While the sum of fines could hardly get an entity like Kraken off balance, the future of staking concerns the crypto…
For readers looking for unique, meaningful gifts for their valentine this Valentine’s Day, consider giving a cryptocurrency-related gift. Here are nine options: A cryptocurrency gift card Give your significant other the gift of choice by giving them a cryptocurrency gift card. They can use it to buy food or any digital asset they want, whether that’s Bitcoin (BTC), Ether (ETH)…
Bitcoin and major altcoins look vulnerable to a deeper correction after the crackdown on Paxos soured sentiment across the crypto market. Source: https://cointelegraph.com/news/price-analysis-2-13-spx-dxy-btc-eth-bnb-xrp-doge-ada-matic-sol
Blender, the cryptocurrency mixer sanctioned by the United States Department of the Treasury’s Office of Foreign Assets Control in May 2022, was “highly likely” relaunched as Sinbad, according to risk management firm Elliptic. In a Feb. 13 report, Elliptic said its analysis of Sinbad suggested that the crypto mixer was likely a rebrand of Blender as well as having “the…
